Midland National Life Insurance Company Review

It’s easy to become overwhelmed by the sheer number of companies offering coverage when shopping for life insurance.

One company who manages to stick out from the pack is Midland National Life Insurance Company. A well-known name in the industry, they’re notable for their quality coverage, high financial strength, and commitment to their customers.

Here’s our detailed Midland National Life Insurance review to help you decide if it’s the right option for you.

Our Midland National Life Insurance Company Review

The three most important things you should know about Midland National are:

A+ rating from A.M. Best, S&P and Fitch for financial strength

Wide variety of customizable coverage options

Other financial products, retirement products, and annuities

Despite their high level of success, Midland National Life Insurance is still committed to providing competitive rates for all their coverage options.

What Midland National Is All About

Midland National Life Insurance Company has a strong reputation in the industry.

Their history dates back to 1906 when they were founded in Sioux Falls. The company is still based out of South Dakota today.

Even since the beginning, Midland National has emphasized the customer. Their goal has always been to provide the utmost satisfaction to all their policyholders.

They’ve accomplished this goal by establishing a solid foundation as a financially strong company. As a customer, you should never have to worry about them failing to pay out your policy.

Their commitment to their customers extends from their strong financial background to their customizable coverage options, available to consumers, banks and other institutions and corporations.

Midland National is actually owned by Sammons Financial Group, Inc. (SFG), a privately held company. They are also accredited by the Better Business Bureau, with score of “A+”.

Here are some other quick facts:

Over 1.1 million policies active, and nearly $150 billion in total amount in force

Assets exceeding $51 billion

NAIC quality ratings suggest 96% of all investments are bond grade

What Makes Midland National Unique

Midland National fits firmly in the mold of a traditional life insurance company. While they aren’t necessarily innovative, they hold strong in what has always worked for them.

Carefully consider these additional features when looking at Midland National as your life insurance provider.

What We Like About Midland National

Midland National does a lot of things right. Strongly consider these benefits when shopping for life insurance coverage.

These top benefits include:

Commitment to policyholders

Strong financial ratings

Variety of coverage types

Lots of additional features

Excellent customer service

Compare and contrast these benefits with those of other life insurance companies to see which provider is the best for you personally.

As you can see from Midland National’s top benefits, they’re a company who firmly cares about its policyholders. Not only does this shine through in the services offered, but also in their excellent customer service.

Finally, Midland National is such a popular life insurance provider because of their strong financial ratings which helps show benefits are much more likely to be paid out as promised.

What We Don’t Like About Midland National

Every life insurance company has a handful of negatives – Midland National included.

The main disadvantage we’d like to note here is Midland National’s $1.3 million lawsuit which originated in 2011.

The lawsuit claimed the company unfairly targeted elderly clients through false advertising and improper education about what the coverage entailed.

Also, the lawsuit claims Midland National did not inform these elderly clients most of them would not be eligible for their death benefits.

It’s important to look at these negative claims alongside the benefits of Midland National and their overall strong reputation to form your own opinions about the company.

Who is Midland National Best for?

Almost anyone will benefit from buying life insurance from Midland National Life Insurance Company.

That said, it’s best for those who want a lot of flexible coverage options backed up by strong financial ratings and excellent customer service.

In fact, Midland National boasts an “A+” or “Superior” rating from A.M. Best, Fitch, and Standard and Poor’s. These rating have to do with the company’s overall financial strength, and it ranks among the best of the best.

Furthermore, Midland National is best for those who demand a life insurance provider who changes with the times. The company is constantly updating every aspect of their business to best suit the current needs of their policyholders.

Midland National Customer Service

Customer service is an often-overlooked component of a great life insurance company.

Not only is great customer service essential to helping current policyholders and taking care of claims promptly, but it’s also an important aspect of signing up new customers.

No matter if you’re a new customer or a current policyholder, Midland National makes it a point to be available 24/7 for live phone support.

They also provide email support for those who prefer to have their questions answered online.

The Verdict

Now that we’ve thoroughly dissected Midland National – how do they stand up to their competition?

The short answer to this is very well. Midland National regularly stands as one of the best quality life insurance companies currently offering coverage.

The reasons for this popularity and success are obvious: Midland National is committed to its policyholders through a combination of great customer service, a variety of flexible and customizable plans, and great rates overall.

Give Midland National a look during your hunt for the best life insurance coverage for you.